Update: May Jobs report, +38,000 jobs and unemployment rate of 4.7%.
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Stocks opened lower again on Thursday, but like Wednesday, buyers were quick to step in and the indices slowly rose all day and closed at their highs of the day. The gains weren't huge, the Dow ended with a gain of 49-points, but from the morning low to the close it gained 135-points.
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The S&P 500 (C-Fund) didn't make a new high, as I mentioned above, but the SPY did hit the April high and closed at its highest level of the year. You can see by the volume that there is tentativeness in front of this important month with today's jobs report, the Brexit vote, and the FOMC meeting later this month being the headliners.
The DWCPF (S-fund) made another 2016 high yesterday, hitting a level last seen in early December. It is trading within a wide parallel channel right now, but it is right between the rising support and resistance lines so the short-term has a lot of wiggle room. For now, we'll look at the April high to act as the first level of support on any pullback.
The Nasdaq Composite hit a new 2016 high as well, so the leaders are doing well. Well, except for this next one.
The Dow Transportation Index is one of major concerns for the market as this market leader has not been able to get back above the important 200-day EMA during this recent rally. It has closed above the 50-day EMA for 4-straight days, which is a pretty good sign, but it is still in the neighborhood.
The EFA was flat while the I-fund was down and continues to lag.
The AGG (Bonds / F-fund) was up on Thursday. This chart is slightly different than prior day's charts because of a dividend paid on Wednesday. The price is slightly lower but it also changed Wednesday's bar, which actually closed right on the 50-day EMA on that chart, before the dividend was paid. This looks a little better.
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the TSP and ETF Systems. For more information on how to gain access and a list of the benefits of being a subscriber, please go to: www.tsptalk.com/plus.php
Thanks for reading. Have a great weekend!
Tom Crowley
Posted daily at www.tsptalk.com/comments.php
The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.
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Stocks opened lower again on Thursday, but like Wednesday, buyers were quick to step in and the indices slowly rose all day and closed at their highs of the day. The gains weren't huge, the Dow ended with a gain of 49-points, but from the morning low to the close it gained 135-points.
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The trend of small caps leading and the I-fund lagging continued. For the S&P 500, it is back above the stubborn 2100 area and is closing in on the 2016 high. The 52-week high is up near 2128.
We get the May jobs report early this morning (Friday) and estimates are looking for a gain of 155,000 jobs, and an unemployment rate of 4.9%. The Jobs Report Contest winner will be posted here.
We get the May jobs report early this morning (Friday) and estimates are looking for a gain of 155,000 jobs, and an unemployment rate of 4.9%. The Jobs Report Contest winner will be posted here.
The S&P 500 (C-Fund) didn't make a new high, as I mentioned above, but the SPY did hit the April high and closed at its highest level of the year. You can see by the volume that there is tentativeness in front of this important month with today's jobs report, the Brexit vote, and the FOMC meeting later this month being the headliners.
The DWCPF (S-fund) made another 2016 high yesterday, hitting a level last seen in early December. It is trading within a wide parallel channel right now, but it is right between the rising support and resistance lines so the short-term has a lot of wiggle room. For now, we'll look at the April high to act as the first level of support on any pullback.
The Nasdaq Composite hit a new 2016 high as well, so the leaders are doing well. Well, except for this next one.
The Dow Transportation Index is one of major concerns for the market as this market leader has not been able to get back above the important 200-day EMA during this recent rally. It has closed above the 50-day EMA for 4-straight days, which is a pretty good sign, but it is still in the neighborhood.
The EFA was flat while the I-fund was down and continues to lag.
The AGG (Bonds / F-fund) was up on Thursday. This chart is slightly different than prior day's charts because of a dividend paid on Wednesday. The price is slightly lower but it also changed Wednesday's bar, which actually closed right on the 50-day EMA on that chart, before the dividend was paid. This looks a little better.
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the TSP and ETF Systems. For more information on how to gain access and a list of the benefits of being a subscriber, please go to: www.tsptalk.com/plus.php
Thanks for reading. Have a great weekend!
Tom Crowley
Posted daily at www.tsptalk.com/comments.php
The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.
